Medical devices developer Shanghai MicroPort jumps on robust earnings outlook

PW Medtech

02/07/2024 07:15

** Shares of medical devices developer Shanghai MicroPort
Endovascular MedTech Group Co Ltd  688016.SS  jump as much as
13% to 110.48 yuan, their highest since June 19, and on course
to snap three consecutive sessions of fall
    ** Stock last up 4.4%, on track for the biggest one-day pct
rise since April 29 
    ** HK-listed MicroPort Scientific  0853.HK  said its
40.3%-owned Shanghai MicroPort is expected to record a 40%-50%
YoY increase in first half net profit with revenue up 25%-30%
YoY thanks to growth in sales of the unit's innovative products 
    ** Shares of MicroPort Scientific surge 5.1% to HK$5.54, on
track to snap two sessions of decline
    ** In China, the blue-chip CSI 300 Index  .CSI300  slips
0.02% while the Shanghai Composite Index  .SSEC  adds 0.2%
    ** In Hong Kong, healthcare index  .HSCIH  eases 0.5% while
Hang Seng Index  .HSI  gains 0.6%
    ** MicroPort Scientific stock dropped 36.6% YTD, Shanghai
MicroPort down 21.1% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))